The selected financial institution shall: • Maximum Commitment: Up to $150 million • Effective Date: No later than January 31, 2026 • Commitment Expiration Date: Two (2) years from the Effective Date • Minimum Draws: $500,000, in $100,000 increments • Revolving Nature: Amounts borrowed may be repaid and re-borrowed at any time during the availability period • Collateral: Draws will be secured by cash repayments of prior multifamily loans originated under HHFDC's tax-exempt bond programs • Borrower Credit: the Facility will be established under HHFDC's general obligation credit • Termination Rights: HHFDC may reduce or terminate the unused portion of the commitment with five (5) business days' written notice, without penalty • Offer Validity: Proposals must remain valid through at least April 30, 2026 • Compliance: The Facility must comply with applicable federal tax regulations governing the recycling of private activity bond proceeds • Cost Competitiveness: Proposals must reflect competitive interest rates, fees, and terms consistent with market standards and HHFDC's affordability mission
